O/T Condor Airlines

[Exiletyke]

Given a loan by German Gov't to enable them to continue flying
Thought it was against EU rules

[Grist_To_The_Mill]

Given a loan by German Gov't to enable them to continue flying
Thought it was against EU rules

Is it a parachute payment?

[CASPER-64-FRANK]

It's not against the rules.
They have to pass it through the European Commission.
Almost sure Condor are / were a subsidary of defunct Tom Cook Airlines.

[KerrAvon]

Given a loan by German Gov't to enable them to continue flying
Thought it was against EU rules

1. It may be that, if the loan is not at a market rate, the German government and Condor can expect to face penalties in the future if someone complains and the ECJ rules against them; or

2. If the support does breach EU state support rules, it may be that the EU has agreed the loans, but imposed conditions. As an example of that, when the British government recapitalised RBS and Lloyds TSB it was on the condition that both banks be broken up to prevent then benefiting from a consequential market advantage. Lloyds TSB was broken up. RBS tried to demerge part of its operation (by reviving the Williams & Glynn brand) but could not find a buyer so it was agreed that they would pay substantial sums to support 'challenger' banks instead.

I hope that you find this response helpful.

[gm_gm]

It's not against the rules.
They have to pass it through the European Commission.
Almost sure Condor are / were a subsidary of defunct Tom Cook Airlines.

Great point Frank, however the owners of the EU are able to change the rules if it suits arnt they?

[CASPER-64-FRANK]

Great point Frank, however the owners of the EU are able to change the rules if it suits arnt they?

Germans and French will look after their own economies gm, they will do what they think fit as long as their economy doesn't take a big hit.

[Exiletyke]

Germans and French will look after their own economies gm, they will do what they think fit as long as their economy doesn't take a big hit.

Thankyou Frank & gm I found your responses helpful

[Brin]

Is it a parachute payment?

Grist not sure but they're certainly flapping over this....

[CAMiller]

Thankyou Frank & gm I found your responses helpful

Exiletyke/KerrAvon - if you want a vehicle for petty point scoring can you please use TykesMad? Thanks.

[John2]

Exiletyke/KerrAvon - if you want a vehicle for petty point scoring can you please use TykesMad? Thanks.

Why? Seems a bit arbitrary.